Guideline Value for Rahmaniya Nagar

Rahmaniya Nagar guideline value

The current guideline value of Rahmaniya Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Rahmaniya Nagar has changed

Over the years, the guideline value of Rahmaniya Nagar has seen significant changes. In 2007, the guideline value was Rs 50 per sq.ft. This amount increased dramatically to Rs 700 per sq.ft in 2012, marking a rise of 1,300%. However, by 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose again to Rs 700 per sq.ft in 2023, and most recently, it has increased to Rs 770 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 1,440%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Rahmaniya Nagar's 2024 value below this median.

• Rahmaniya Nagar Phase - II: Rs 770 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 880 per sq.ft (2024)
• P.T.C. Nagar: Rs 770 per sq.ft (2024)
• P.T.C.Colony: Rs 770 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 990 per sq.ft (2024)
• Ramakrishna Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Rahmaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rahmaniya Nagar?

Rahmaniya Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Nandambakkam

The guideline value is an essential factor when buying or selling property in Nandambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rahmaniya Nagar?

The current guideline value of Rahmaniya Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 1,440% over the years.

What is the median guideline value in Nandambakkam?

The median guideline value for streets in Nandambakkam is Rs 880 per sq.ft, with Rahmaniya Nagar's 2024 value being below this median.

What are the stamp duty and registration fees for property in Rahmaniya Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 69,300, calculated based on the current guideline value of Rs 7,70,000.

Which office handles property registrations for Rahmaniya Nagar?

The Padappai Sub Registrar Office handles property registrations for Rahmaniya Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.